Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $224 in interest after 2 years. How much money should he deposit? Can someone help me out I’m kind of struggling

$7000

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 1.6%/100 = 0.016 per year,

then, solving our equation

P = 224 / ( 0.016 × 2 ) = 7000

P = $ 7,000.00

The principal required to

accumulate interest of $ 224.00

on a rate of 1.6% per year for 2 years is $ 7,000.00.

step-by-step explanation:

the true statements are:

r = set of real numbers

n = set of natural numbers, 1,2,

w = n u{0} = {0,1,}

required rate of return = 0.166 = 16.6%

step-by-step explanation:

under the capital asset pricing model (capm), the required or expected rate of return for a particular security or asset is given using the formula:

required rate of return = risk-free rate + beta*(market risk premium)

we are given that;

risk-free rate = 4% = 0.04

beta = 1.4

market risk premium = 9% = 0.09

we simply plug these values into the above formula;

required rate of return = 0.04 + 1.4*(0.09)

required rate of return = 0.04 + 0.126

required rate of return = 0.166 = 16.6%